Just thoughtsBelow are Item's that are marked from 1 through 5 to make this post clearer They appear unnumbered at the bottom of this link from Energizer Resource's website under Investors: Investor Fact Sheet https://www.energizerresources.com/images/stories/pdf/2016-09-01_Molo_Fact_sheet.pdf concerns me
The items
1. Front-End Engineering & Design Study results November 2016
2. Strategic off take partner announcement expected Dec 2016
3. Secure CapEx financing (50:50 debt to equity) Q1 2017
4. Environmental and social impact assessment and permirng expected by Q1 2017
5. Construction in Q3 2017 with targeted production by Q4 2018
I agreed with items #1, #2 and #4, but because of the “Phased Development Plan for the Molo Graphite Project” has adversely effected item 2, it's been scrapped.
Please read the 11/07/2016 news release “Energizer Resources Outlines Phased Development Plan for Molo Graphite Project Based on FEED Study Results “
https://web.tmxmoney.com/article.php?newsid=6026684670317720&qm_symbol=EGZ
Item 5 which concerns targeted production for Q4 2018 leaves me feeling that it was EGZ's intention to encourage shareholders to vote as they instructed in the Proxy Statement - Notice of Shareholders Meeting (preliminary) (pre 14a) dated 10/27/2016 and further followed by the above news release concerning the Phased Development Plan for Molo.
Are they being extra careful with the 9 month build time?
It should be by the end of 2017 to begin obtaining info for their Phased Development Plan and possibly obtain multiple off take partners rather than just one -off take partner- as stated in Item 2 which was expected by December 2016?
Are they trying to get shareholders to agree with the reverse splits and later obtain further funds throuh share issues for the Phased Development Plan?
Shouldn't have Item #2 “Strategic off take partner statement expected in Dec 2016” be enough to get this show on the road without having to build the demonstration plant? The Major Institutional Shareholders, JP Morgan, VR Capital and Dundee are billion dollar firms and their holding's in Energizer Resource's shares should be a mark of their confidence in Energizer's ability to perform.
The Major Institutional Shareholders own 154.9 Million shares combined (or have a ~33.6% interest). After adding 1,667,000 purchase warrants, they have 156.6 million shares (or a ~34% interest) beneficially owned shares. Their are other Institutional Shareholders that also own shares of Energizer.
I received the voting instructions on 11/12/16 and voted against the reverse splits and stock option plan including other issues. My vote was mainly based to their of lack of progress and past dilution followed by talk of reverse splits..